All this talk on mining, i think digibyte needs to worry about more important things like the amount of coins coming into circulation by the day. If they would cap the total amount and quit handing out freebies this coin would go places on the charts and establish a healthier user base.
How are you going to convince any new person into crypto to invest in something thats bringing 3btc worth in circulation daily? Theres alot of people not investing into dgb for this reason, i know cuz ive watched the market for a long time. The rises have been forced by one or just a few people with no real support. And claiming $1 per dgb as a long term goal is ridiculous. Not with 21billion coins, do the math the market cap would be out of this world. Its one thing to set goals but its a slap in the face when they are far from realistic.
Mining is very important and lots of it, like there is on bitcoin but better distributed and accessible by many more people because of the multi algo approach. This is what will drive the value of the coin eventually but it always takes time because people will always have coins that they acquired for less than the current market price and will be tempted to sell them but there is only so many so the price should creep upwards as people trade them for more than they paid for them.
The 3 btc is not really relevant, because it is just based on the current market price. The target price of $1 was a comparison to bitcoin at $1000 and because that is the ratio between the supply of the two coins and nothing more, no body has ever said that will happen anytime soon and it wont happen unless we see an awful lot more mining.
I understand mining is important, ive had experience with it. Got into ltc ming back before ltc went vertical, so ive been in crypto a fair amount of time. Mining does serve its purpose that is not the argument. Its the inflation.
Theres only so many but theres 3btc coming into circulation daily? (at a low price of 50sat) Seems like a contradictory statement. Thats 21btc in a weeks time or half the total buy support on the largest exchange on a GOOD day! Again, how are you going to convince someone to invest?
DGB has great features but whats the project worth if its value is in a downhill slide, speaking just on a developmental aspect? This project should have every reason for someone to invest their hard earned money in DGB. This will keep the user base growing. Crypto is a shady market and people are scared for their financial well being in the first place. Projects shouldnt give them a reason to not do so.
Im certainly not saying that you are not making fair points, it is not easy to bring people into crypto and especially as there have been so many places to lose money hand over fist in the crypto world be it through scams, theft or plain business failure. DigiByte, however is a fantastic example of this technology with an open and honest developer and the community will determine if it ultimately succeeds or fails but nobody should be looking at it like easy money but if you want crypto, then you should want DigiByte and you should buy it for as little as possible off the markets and hold it and preferably mine it too. You should certainly not be buying it during a spike, which unfortunately a lot of people do, as these are generally manipulated and going to leave you burnt, at least in the short term. It is up to us as a community to go on creating good reasons to get involved with DigiByte.